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NENE PARK TRUST |
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About Nene Park Trust |
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In the late 1980’s the expansion of the city approached completion and the winding up of the Development Corporation became imminent. The three partnership authorities considered the options for the future ownership and management of Nene Park and concluded that an independent trust set up solely to hold and operate the Park was the best vehicle. This would protect the Park from changes of policies and fashion in Local and Central Government and, if financially independent, it would be protected from the uncertainties of public funding and so Nene Park Trust was created. The income from the Trust’s own activities and from rents from properties in Nene Park alone were insufficient to cover the day to day operating costs and long-term maintenance of Nene Park, its facilities and buildings. Changes in rules by central government allowed the transfer of assets from the soon-to-be wound up Development Corporation to the trustees, Peterborough City Council. So an endowment of commercial property was established in trust, the rent from which would make up the shortfall. This endowment portfolio has now by and large been sold and the proceeds transferred to a new charity “The endowment help in connection with Nene Park Trust” and invested it will continue to provide income for Nene Park Trust into the future. The aim of Nene Park Trust was set out in the documents which govern it (its Memorandum and Articles of Association) which is; "to provide for the public
benefit a park and recreation ground for the inhabitants of In order to meet this aim, the Board of Management has established a number of strategic policies to guide the work of the Trust. To find out more click here Nene Park Trust is a company, limited by guarantee (Company No 2288607), and a registered charity (Charity No 800067). It is financially independent, and does not receive funding from local or central government or any other public body. All its income is devoted to operating, maintaining and developing Nene Park now and in the future. As required by law the Annual report of the Board of Management and Financial Accounts for the past year, which are subjected to external audit, are prepared and copies sent to the Registrar of Companies and the Charity Commission. Summary Information, Return Document and Financial accounts are available online at the Charity Commission website. Since it was established not only has Nene Park Trust operated and maintained Nene Park successfully but has also been able to acquire additional land to extend the Park and carry out extensive upgrading and additions to the facilities in the Park for the benefit of ever increasing numbers of visitors. To find out more click here
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